ACTIVITY BASED COSTING (ABC) is a costing system that identifies the various activities performed in a firm and uses multiple cost drivers (non-volume as well as the volume based cost drivers) to assign overhead costs (or indirect costs) to products. ABC recognizes the causal relationship of cost drivers with activities.
FOMC see FEDERAL OPEN MARKET COMMITTEE.
UNFAVORABLE VARIANCE is the opposite of favorable variance. See FAVORABLE VARIANCE.
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